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Report Overview
The Latin America generic drugs market was valued at USD 38.39 Billion in 2025, driven by increasing government initiatives to stimulate production and improve access to generic drugs in the region. The market is expected to grow at a CAGR of 6.33% during the forecast period of 2026-2035, with the values likely to rise USD 70.92 Billion by 2035.
2025
Base Year
2019-2025
Historical Period
2026-2035
Forecast Period
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The market share is influenced by the rising government initiatives that aim at increasing access, reducing costs, and addressing shortages of generic drugs. For example, the Brazilian government has incorporated publicly funded production of generic medications as a key part of its national public health strategy.
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One of the major Latin America generic drugs market trends is the surge in strategic collaborations among the key market players. For instance, in October 2023, EuroPharma Inc., completed its acquisition of Colombia-based generic pharmaceutical company Genfar, making it the unified brand for generic medications in Latin America excluding Brazil to reinforce its consolidation and internationalization strategy.
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The growing burden of chronic diseases and increasing patent expiration of branded medications is expected to propel the market growth in the forecast period.
Leading Players in the Latin America Generic Drugs Market
The key features of the market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Teva Pharmaceutical Industries Ltd
- Viatris Inc.
- Sun Pharmaceutical Industries Ltd
- Lupin
- AstraZeneca
- Baxter
- Takeda Pharmaceutical Company Limited
- GSK plc
- Bausch + Lomb
- Novartis AG
- Sanofi
- Pfizer Inc.
- Fresenius SE & Co. KGaA
- Aurobindo Pharma
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Latin America Generic Drugs Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of about USD 38.39 Billion in 2025 driven by increasing government initiatives to stimulate production and improve access to generic drugs in the region.
The market is anticipated to grow at a CAGR of 6.33% during the forecast period of 2026-2035, likely to reach a market value of USD 70.92 Billion by 2035.
The increasing healthcare needs and rising patient expirations are fuelling the market demand.
One of the significant trends in the market is the rise in strategic partnerships among the key market players. In October 2023, EuroPharma Inc., completed its acquisition of Colombia-based generic pharmaceutical company Genfar to reinforce its consolidation and internationalization strategy.
Based on the therapy area, the market is segmented into cardiovascular, dermatology, respiratory, oncology, and rheumatology, among others.
By route of administration, the market is divided into oral, injectables, dermal/topical, and inhalers, among others.
The distribution channels of the market are hospital pharmacies, retail pharmacies, and online pharmacies, among others.
The market segmentation by countries includes Brazil, and Mexico, among others.
The key players in the market are Teva Pharmaceutical Industries Ltd., Viatris Inc., Sun Pharmaceutical Industries Ltd., Lupin, AstraZeneca, Baxter, Takeda Pharmaceutical Company Limited, GSK plc, Bausch + Lomb, Novartis AG, Sanofi, Pfizer Inc., Fresenius SE & Co. KGaA, and Aurobindo Pharma.
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